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Coverys’ has invested in Archway Health Advisors and now holds an ownership position in the company, the Boston-based medical professional liability insurer said Wednesday.
A spokesman for Coverys said the transaction became official on June 29, and financial terms of the purchase agreement aren’t being disclosed.
The deal provides Brookline, Massachusetts-based health care consultant Archway with additional resources to expand its platform and better assist providers in navigating “the complexities of payment reform, financial risk management, and care improvement,” Coverys said in a statement.
Through advisory services and technology tools, Archway helps providers with “a diverse range of reimbursement opportunities, including those involving Medicare, Medicaid, private payers, and workers compensation programs,” according to the statement.
“We view the services Archway provides as critical to the success of providers in the era of health care reform and value-based medicine,” CEO and President of Coverys Gregg L. Hanson said in the statement.
OneAmerica Financial Partners Inc. announced Friday it had agreed to acquire the U.S. defined contribution record-keeping business of BMO Financial Group.